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Has AGCO (AGCO) Outpaced Other Industrial Products Stocks This Year?

For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is AGCO (AGCO) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.

AGCO is a member of our Industrial Products group, which includes 213 different companies and currently sits at #16 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AGCO is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for AGCO's full-year earnings has moved 3.27% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, AGCO has gained about 31.36% so far this year. At the same time, Industrial Products stocks have gained an average of 11.45%. As we can see, AGCO is performing better than its sector in the calendar year.

To break things down more, AGCO belongs to the Manufacturing - Farm Equipment industry, a group that includes 7 individual companies and currently sits at #199 in the Zacks Industry Rank. Stocks in this group have gained about 14.85% so far this year, so AGCO is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Industrial Products stocks should continue to pay close attention to AGCO as it looks to continue its solid performance.


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